Have a great day all!
Have a wonderful night all!
Short $LH ... 3 new subpoena's from DOJ. Overbought on tech side.. Pivot down to test 200 DMA. 240 is my sell target. Huge OI on puts today 5 times normal option volume. 160's are pretty cheap as well.
A strong bullish daily candle confirms the breakout of the significant resistance level. The small caps entered a balance breakout mode. Usually, that would lead to continuation pattern until the projected area top is not reached. The bullish pattern would help the S&P to move higher or at least to remain at the current prices. The small caps offer better upside...
Shares of MMM look to be forming an inverse H&S pattern that looks it could be a favorable setup for the bull camp. It's deeply oversold with an R.S.I. reading of 22.9 and is holding the neckline support, so I think it's headed higher. Shares are in the buy zone right now at $185, which is the neck of the pattern. Look for minor resistance around the gap down at...
Have a great weekend all!
Have a great day all?
It seems the upside idea started to unfold. With a low volume there is no strong upside move, nevertheless , a breakout remains intact so far. The market can grind up being in the breakout mode for awhile. Traders are advised to buy pullbacks until the breakout is intact. The strength in the Russell helped the S&P, which was expected and outlined in the previous...
The Russell 2000, a true indicator of the broader market strength, is keep testing its major resistance. The original idea that it could offer a better upside reward is still intact. Usually, a support or resistance eventually gives up after multiple testes. In case of the successful breakout the released energy would propel the market - there will be a lot of...
Have a great day all
Have a great day
Happy all time highs. No call. Google + Apple reporting next week. Microsoft reached 1 trillion market cap. Majority of companies reporting earnings beats and revenue misses. How is that possible? Buybacks. Keep an eye on Semiconductors, smallcaps, oil, and China. Natural gas looking interesting. Maybe check on the VIX positioning. Record number. When...
Have a wonderful day all!
Have a wonderful day all!
Looking at broadening formations: similar pattern 1960's-80's. Larger span of time then.. just interesting to me
... for a 1.10/contract credit. Metrics: Max Loss/Buying Power Effect: Full notional Max Profit: $110/contract Break Even on Setup: 123.90 (18.4% discount over where the underlying is currently trading if assigned) Delta: 10.93 (Current) Theta: 1.36 (Current) Notes: While I'm sitting on my hands a bit here, I figured I post one of my kid's "Not A Penny More"...
Divergences starting to perk up all over the place.